Live shopping platform Whatnot secures 265m dollars in funding round

Whatnot, a leading live shopping marketplace across US and European markets, has secured 265 million dollars in Series E funding, valuing the platform at nearly 5 billion dollars. The investment round, co-led by Greycroft, DST Global, and Avra, marks one of the largest investments in livestream retail to date.

The platform, which has demonstrated remarkable growth in the social commerce sector, reported that its gross merchandise value from livestream sales exceeded 3bn dollars in 2024, with sales volume more than doubling year-on-year. This growth comes as traditional retail continues to grapple with the shift toward more immersive digital shopping experiences.

For fashion industry professionals, Whatnot's success signals a significant evolution in online retail engagement. The platform's expansion into vintage fashion and sneakers, alongside other categories, showcases the growing appetite for live, interactive shopping experiences that blend entertainment with commerce.

"We believe there's a better way to shop online, and it starts with creating a platform where sellers can grow thriving businesses around the things they care about most," said Grant LaFontaine, Whatnot's co-founder and chief executive.

The company's recent State of Livestream Selling Report revealed compelling economics for sellers, with two-thirds earning over 10,000 dollars monthly. This suggests a viable new channel for fashion retailers and brands looking to enhance their digital presence.

Marcie Vu, partner at Greycroft, highlighted the platform's potential: "Whatnot has tapped into a powerful shift in the way people shop - live, video, social, and mobile first. The Company has built a multi-category platform that can address all of retail, approximately 7 trillion dollars in the United States alone."

The funding will support expansion into new markets, including Australia, building on existing operations across North America and Europe. The investment comes as live shopping continues to gain traction in Western markets, following its established success in Asia.

For fashion retailers, Whatnot's rapid growth and substantial funding underscore the increasing importance of live commerce in the industry's digital transformation strategy. The platform's success suggests that combining community engagement with commerce could become a crucial element in the future of fashion retail.